Originally Posted by
Logen Ninefingers
Inflation has been caused by central banks + COVID. But the central banks have made the inevitable fall-out much worse because they slashed interest rates and printed money since the GFC to deliberately inflate asset prices in order to induce a ‘wealth effect’. The fireman was the arsonist. Now the angry plebs who went ‘all-in’ on property are looking around for someone to blame as disaster looms, and they are far too ignorant to know the first thing about what central banks did and why it was so reckless. Most will blame ‘the gummint’; they will never learn anything unfortunately.